On Tuesday afternoon, the United States Securities and Exchange Commission (SEC) issued comments to Bitcoin spot Exchange-Traded Fund (ETF) applicants after submitting final amendments yesterday.
Analysts Debate Over SEC’s Comments
The comments have sparked a massive debate among analysts. Perianne Boring, the founder of the Chamber of Digital Commerce, wrote on X, formerly Twitter, earlier today that the SEC’s latest move should be considered a “delay signal,” suggesting that the regulator will postpone its decision on ETF application from January 10 to another date. On the other hand, Bloomberg ETF analyst James Seyffart disagrees with Boring, arguing that the release of the comments just a day following the submissions shows how the SEC is acting quickly to announce its decision. Seyffart says if the SEC wanted to delay, it would not have sent comments that fast.
Meanwhile, Eleanor Terrett, a journalist at Fox Business, agrees with Seyffart. He adds that the SEC comments only address “minor issues” in the documents filed yesterday. Terrett also claims that the ETF applicants who have received the comments are “not worried.”
On Tuesday morning, news website Axios cited three sources similar to the matter in its report, which suggested that a Bitcoin spot ETF would start trading on Thursday.
Updated S-1 Fillings
The S-1 documents submitted by Bitcoin ETF applicants to the SEC on Monday revealed fee structures that promise massive returns to potential investors. BlackRock, for example, is expected to charge only a 0.30% fee.
Moreover, Bitwise and VanEck’s S-1 filings disclosed that the companies are prepared to seed their respective Exchange-Traded Funds with millions of dollars.
Monday’s S-1 Fillings Push BTC to $47k
The filings pushed Bitcoin’s price to $47,000 on Monday as hope grew that the most-awaited ETF could finally hit the market. Bloomberg analysts have reported that the chances of a Bitcoin spot ETF approval in January are now at 95%.
However, not everyone is optimistic that the SEC will approve Bitcoin ETF. Boring says she’s worried that the regulator might dismiss all the applications like it has done over the past 11 years.
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